Hi All,
As per usual, the net abounds with rumours and unverified statements taken out of context with good does of assumption thrown in.
I feel I'm well qualified to make comment on this matter in particular..why you may ask?
1) The private OS company I manage has considerable funds tied up in this debacle.
2) That same OS company now has funds invested with both BTR and PFG traded by Dev (thats what the trader goes by)
2) I'm an IB for BTRFX, as well I have an sub IB arrangement with PFG.
3) I'm close to those that have a close asociation with the trader.
4) I receive updates directly from the head of Tradex Swiss.
The short story is this:
Unscrupulous forces brought Tradex to its knees, former shareholders in fact. The US courts have since ruled that there is no evidence of any wrongdoing by Tradex and that the Swiss lawyers have simply wasted US tax payers money and court time. Its been a vicious exercise of greed. I have the document issued by the court and its further backed by way of press release on the matter.
Craig Karlis, well there's all sorts of chinese whispers abounding. My take is that he sought to separate himself from Tradex as much as possible, of course he would. Craig, former Tradex employees and the gun trader took steps to protect investors money and keep it in the US by way having a court take action to freeze the accounts...if it had been relinquished to Swiss authority that would have been the end of funds for creditors. They deserve comendation, not criticism. The US court judgement on this matter supports this view and its in fact what I base a large part of my opinion on.
Click below to read about it:
Ill fated Swiss Federal Banking Commission "INVESTIGATION" into Tradex Swiss AG - Free-Press-Release.com
Corporate entities are seperate - BTR is not Tradex. But yes, some of the same people are involved...big deal. They even operated out of the same building...again...big deal (saves moving).
Since that time, the Trader, Craig and former employees of Tradex have started their own brokerage that now works under the umbrella of Maximum Financial. I hold an account through them, as well as with PFG and can attest that their dealings have been nothing but professional.
The trader is now rumoured to have in excess of $US55 million under management and I have reliable sources that confirm this.
I am of course frustrated about the whole situation, as are about 1600 other investors, but life goes on. I patiently (rather - impatiently) await the final resolution to the matter.
If there's anybody serious about opening an account with this trader, well all I can say is I suspect you'll be happy with the performance...after years in this business I know of only one other trader who is on par...the other 95% you'll come across are crap, its true. Been there. This trader is all about getting clients results with professional trading - NOT a brokerage commission exercise the likes of Galleon, FXCM and IPAM.....as well as many other I suspect.
My 20 cents worth, take of it what you may.
Cheers, Adam
BTRFX - 6% average for 19 months straight.
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